Elevation Oncology, Inc. announced on June 9, 2025, that it has entered into a definitive merger agreement to be acquired by Concentra Biosciences, LLC. Under the terms of the agreement, Elevation Oncology shareholders will receive $0.36 in cash per share.
In addition to the cash payment, shareholders will receive one non-tradeable contingent value right (CVR). This CVR represents the right to receive 100% of the closing net cash in excess of $26.4 million, and 80% of any net proceeds received within five years from any disposition of EO-1022 that occurs within one year following closing.
The Elevation Oncology Board of Directors unanimously approved the merger, determining it to be in the best interests of all stockholders. The acquisition is subject to customary closing conditions, including the tender of a majority of outstanding shares and the availability of at least $26.4 million in net cash at closing, and is expected to close in July 2025.
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